If consumers within an industry cannot be represented by as single representative consumer, then the industry equilibrium does not occur where market demand intersects market supply.
Answer the following statement true (T) or false (F)
False
Rationale: The industry equilibrium always lies were market demand intersects supply.
Economics
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A difficulty with effective fiscal policy is the:
A. reality of time lags. B. guess as to what potential GDP is. C. lack of relevant information needed to decide the magnitude of change. D. All of these are true.
Economics
Given that C = $500 + 0.8YD, if the level of disposable income is $1,000, the level of saving is
A. $500. B. -$1,300. C. -$300. D. $300.
Economics